The global 3D printing market is likely to reach a market valuation of USD 27.7 billion by the year 2023, accelerating with an impressive CAGR of 21% from 2023 to 2033. The 3D printing market share is expected to value at about USD 186.4 billion by 2033 end.
The said market is anticipated to increase as a result of active three-dimensional printing research and development as well as the rising preference for prototype applications from different industrial verticals.
In its early stages, 3D printing technology, like so many other modern technologies, was somewhat overpriced making the sales of 3d printers limited only for research purposes and sophisticated products.
As per the global market study report on 3D printing market adoption trends, the total sales were less than USD 1 billion from 2009 to 2010. It was the year when only some key patents about 3D printing machines expired and the RepRap3 was released as a consequence. While home or cheap 3D printers might be entertaining and informative, in practice, they have mostly been utilized at the time to create plastic samples, and the items they produced were rarely useful.
By the year 2014, more than USD 2 billion in sales were reported by the global 3D printing market, not all of which were confined to big publicly traded firms. The report Factory in every home was enthusiastically discussed in media stories, and it was predicted that existing transportation firms, and component manufacturers might all experience severe short-term disruptions by the 3D printing market trends. This turning point for the 3D printing market share is probably brought on by the fact that many businesses from various sectors are adopting it for purposes other than just prototyping.
Today's best 3D printers for beginners are capable of producing a wide range of subjects more quickly than before.
Attributes | Details |
---|---|
3D Printing Market Size (2023) | USD 27.7 billion |
3D Printing Market Projected Size (2033) | USD 186.4 billion |
3D Printing Market Value CAGR (2023 to 2033) | 21% |
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Between 2015 and 2016, the main publicly traded firms in the sector achieved single-digit percentage growth although most of the companies witnessed year-over-year revenue reductions by entering a trough of decreased demand for 3d printers after the exorbitant optimism of the prior years.
It was a brief slump, however, and by 2018, the pace of 3D printing market growth had resumed and the total turnover of all the firms together was estimated to be around USD 9.6 billion that year. And as per the previous 3D printing market analysis report by FMI, the annual industry growth rate was considerably over 10% in the following years.
Global exports of 3D printers were figured out to 2.2 million units in the year 2022, and by 2033, it is anticipated to reach 25 million.
Mixed-material printers are becoming widespread and strengthening the 3D printing business, for their applicability in several end-use verticals.
Modeling, prototyping, and forging are some of the popular industrial applications that are driving the 3D printing market opportunities across various industry verticals. Moreover, technical training and studies academic institutions, and research centers are also adopting flash forge 3D printers, which are propelling the market.
The installation and maintenance cost of the prototypes is the key challenge for the 3D printing market growth as pointed out by many industry experts. Instead of attempting to comprehend the cost expenditure benefits of prototypes, businesses engaged in the design, particularly small and medium-sized businesses, are hesitating for investing in 3D printers for sale.
The adoption of 3D printing is being hampered by the widespread assumptions that small and medium-sized firms have about additive manufacturing procedures. In addition, a lack of technical expertise and know-how and an impending lack of standardized quality control measures, are anticipated to restrain the 3D printing industry expansion.
By occupying more than 52% of the worldwide revenue in 2023, the hardware segment dominates the global 3D printing market. This segment, which is worth around USD 11 billion in the current year 2023, has been further divided into industrial and desktop 3D printers based on the kind of printer.
The widespread use of industrial printers in heavy sectors including automobile components, electronic items, engineering, and military is the primary cause of the industrial 3D printer market's sizeable share.
Research Scholars and small businesses were the only ones that use to employ desktop 3D printers at first. They are currently being utilized hugely for personal and domestic tasks making them emerging as a notable segment for the 3D printing market players across the world.
Interestingly, 3D printing services are the second large segment of the market based on components. The net worth of this segment stands at USD 9 billion for the year 2023.
The growing trend of establishing small-scale businesses for such services is anticipated to drive the growth of this segment at a rate of 22.7% during the forecast years. On the other hand, the contribution of 3D printing software, consulting, and support services segments has remained marginal in the overall market. With the growing popularity and sales of 3D printers, these segments are expected to gain momentum in the coming years.
As evident from the 3D printing market survey report in 2022, Direct Metal Laser Sintering or DMLS was the most preferred technology type for the industry players. This segment generated a revenue of USD 5.3 billion in the year 2022 which was estimated to be around 25% of the overall market 3D printing market share.
Selective Laser Sintering (SLS) technology is the second best-performing segment type with a current valuation of USD 4.2 billion in 2023. Possibilities for the implementation of these 3D printing technologies might be facilitated by the rising demand from the aerospace and military, healthcare, and automotive sectors.
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In the year 2023, North America is dominating the global 3D printing market and generated more than 40% of worldwide revenue. This is a result of additive manufacturing being widely adopted by industries in the United States and Canada in a variety of manufacturing processes.
Given its size in terms of geography, the United States is the dominating region for the target market. Due to the presence of several industry participants in additive manufacturing that have extensive technical knowledge of the procedures, the net worth of the 3D printing market size is figured out to be around USD 6 billion in the United States in 2022.
With a CAGR of 22% anticipated for the Asia Pacific area over the projection period, it is figured out to be significantly growing among all the broad geographical regions.
As per the 3D printing market analysis report of FMI, the Asia Pacific region is divided into East Asia and South Asia & Pacific geographical regions, with a net worth of USD 3.7 billion and USD 2.2 billion respectively for the year 2023. The advancements made in the region's industrial sector have contributed to the fast adoption of 3D printing in Asia Pacific countries.
Developing as a manufacturing powerhouse for the healthcare and automotive sectors, Asia Pacific’s 3D printing market is strengthening further. Rapid urbanization and the dominance of electronics and electrical manufacturing are remarkable factors boosting the 3D printing market opportunities in the area as well.
The global 3d printing market size is growing with a continual supply of new competitors. Industry 4.0 is the union of cutting-edge manufacturing and production methods with clever digital technology. It has inflected the emerging trends in the 3D printing market as a crucial element in this movement creating sufficient demand prospects for global and regional market players.
Metal and resin printers have also succeeded in occupying a notable chunk of the said market in recent years though plastic might probably continue predominate,
Several start-ups have also emerged grasping recent developments in the 3D printing market. With the technology being at a developing stage, the new 3D printing market players might have to invest significant capital in research and development activities.
Attribute | Details |
---|---|
Forecast Period | 2023 to 2033 |
Historical Data Available for | 2018 to 2022 |
3D Printing Market Size (2023) | USD 27.7 billion |
3D Printing Market Projected Size (2033) | USD 186.4 billion |
Market Analysis | USD million for Value and Tons for Volume |
Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
Key Countries Covered | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
Key Segments Covered | Component, Technology, Application, Industry, Region |
Key Companies Profiled | Stratasys, Ltd.; Materialise; EnvisionTec, Inc.; 3D Systems, Inc.; GE Additive; Autodesk Inc.; Made In Space; Canon Inc.; Voxeljet AG; SLM Solutions |
Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Customization & Pricing | Available upon Request |
The market is valued at USD 27.7 billion in 2023.
The growth potential of the 3D printing market is 21% CAGR through 2033.
Growing preference for prototype applications and active research and development are pushing the market growth.
Increasing the feasibility of 3D printing for small-scale industries is creating healthy prospects for the product.
The leading market competitors are Stratasys, Ltd., Materialise, and EnvisionTec, Inc.
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